First aerial mapping of SL petroleum resources to be presented at SEAPEX confab

25 June 2022 05:27 am - 12 - {{hitsCtrl.values.hits}}

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Insights to be presented together with Wintermoon Geophysics
Hydrocarbon potential could create a multibillion dollar revenue stream for govt.
Publicity created at upcoming SEAPEX in London could help SL attract new round of foreign investors

Bell Geospace, the world leaders in gravity gradiometry, is gearing up to present the insights gathered from the first aerial mapping of petroleum resources in Sri Lanka at the prestigious South East Asia Petroleum Exploration Society (SEAPEX) Asia Pacific Conference in London.

The mapping that as carried out in the fourth quarter of 2021 will be presented together with Wintermoon Geophysics on June 30.

The mapping project was conducted in 2021 as part of a collaboration between Bell Geospace and the Government of Sri Lanka, with the aim to explore offshore oil and gas potential in the seas off the North and Northwest of the island.

This entailed the acquisition, processing and interpretation of data from Airborne 3D Full Tensor Gravity Gradiometry (FTG), Gravity Gradiometry, and Magnetic Surveys that were employed to gather data on hydrocarbon potential below the surfaces around the Cauvery Basin off the Northern peninsula and the Mannar Basin off the West coast.

Data and interpretation from this survey has revealed new insights into the structure, tectonic history, and hydrocarbon potential of Sri Lanka’s Mannar Basin M1, M2, and the Cauvery Basin C1 blocks.

With Sri Lanka outlaying US$ 6-7 billion annually to purchase fuel, and the domestic hydrocarbon potential estimated at several billion barrels of oil and 9 trillion cubic feet of gas, this is a potential multibillion-dollar revenue stream for the Government of Sri Lanka.

Especially taking into consideration that Cairn India, which explored the Mannar M2 block, invested US$ 200 million in the region 10 years ago.

Additionally, with Bell Geospace’s modern geophysical data and interpretation, the publicity created at a major Oil and Gas conference such as SEAPEX in London holds the potential for Sri Lanka to attract a new round of foreign investors bringing in US$ to the country.

US-based Bell Geospace is the leading provider of high quality airborne Full Tensor Gravity Gradiometry (FTG) data for the mining industry. This data is used to map geology and thus define the shape and scale of existing mineral deposits as well as highlight potential new areas of exploration.

Wintermoon Geophysics is a premier consulting firm for integrated exploration applications of Gravity, Magnetics, GIS, and Remote Sensing.

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Comments - 12

Sambo Saturday, 25 June 2022 07:57 AM

If we were to expedite and find petrol in Sri Lanka a lite may cost more than 1000 Rs after corruption. So better to inport.

Jude Saturday, 25 June 2022 09:12 AM

It's gonna cost few billion dollars to explore oil and gas off-shore!! And any investor will demand 80% revenue for 10 years !! Nothing Less!!

ANTON Saturday, 25 June 2022 09:21 AM

NOW THERE WILL BE SOME MORE LONG QUEUES TO BUY THESE LANDS.

ANTON Saturday, 25 June 2022 09:23 AM

WHEN WE ASKED FOR FOOD , THEY SHOW LANDS TO GROW IT FIRST.

Andare Saturday, 25 June 2022 09:25 AM

We must now find buyers for the oil that is in excess of our requirements so that we can collect Dollars to settle our Debts?

Mizaru Saturday, 25 June 2022 10:29 AM

The same old story since the Sirima episode in the 1970s. Enough is enough. It there is oil or gas just take it out.

Spartacus Saturday, 25 June 2022 06:05 PM

All bullshit. These tactics are good for 69% of those stupid Sinhalese in this country to swallow, but not the international forum.

Tyrone Perera Saturday, 25 June 2022 07:58 PM

30 years too late will take 20 years to catch up.

Kumar Saturday, 25 June 2022 08:09 PM

As always, if there were petroleum deposits around Sri Lanka and if oil could be extracted in economically beneficial manner, petroleum companies would have rushed in a long time ago. Nobody like to hear things like this, but it appears be the truth. So, guys stop dreaming.

Lkf Sunday, 26 June 2022 12:21 AM

This is our final hope. Results are from " one bay " only. There are five in the country. Good times are here again. Grab it.

Man Sunday, 26 June 2022 06:51 AM

Rajapakshas' and their clan, will not leave, to get commissions through gas and oil?

Dillondp Sunday, 26 June 2022 08:31 AM

Ha ha nice build up of a story

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First aerial mapping of SL petroleum resources to be presented at SEAPEX confab

Comments - 12

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